DNB Asset Management AS Increases Stake in Pinnacle West Capital Corporation $PNW

DNB Asset Management AS boosted its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 59.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,806 shares of the utilities provider’s stock after buying an additional 10,315 shares during the period. DNB Asset Management AS’s holdings in Pinnacle West Capital were worth $2,493,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Gateway Investment Advisers LLC boosted its position in shares of Pinnacle West Capital by 0.3% during the third quarter. Gateway Investment Advisers LLC now owns 44,998 shares of the utilities provider’s stock valued at $4,035,000 after purchasing an additional 114 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Pinnacle West Capital by 27.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 542 shares of the utilities provider’s stock valued at $49,000 after buying an additional 117 shares during the period. EverSource Wealth Advisors LLC lifted its position in Pinnacle West Capital by 11.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock valued at $119,000 after buying an additional 140 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in shares of Pinnacle West Capital by 2.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 5,165 shares of the utilities provider’s stock valued at $463,000 after buying an additional 148 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Pinnacle West Capital by 12.3% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 1,408 shares of the utilities provider’s stock worth $123,000 after buying an additional 154 shares during the period. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Thursday, January 22nd. KeyCorp lowered shares of Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a report on Friday, December 12th. Barclays cut their price target on Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, Citigroup raised their price objective on Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $100.08.

Pinnacle West Capital Price Performance

Shares of PNW opened at $101.93 on Wednesday. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $102.70. The company has a market capitalization of $12.32 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 6.02 and a beta of 0.54. The firm has a 50 day moving average of $93.72 and a 200 day moving average of $90.83. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.30.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 2nd were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 71.94%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.